Its simplicity usually means lower construction accounting costs than accrual accounting, which provides a clear overview of the company’s actual cash position. Therefore, a contractor’s general chart of accounts looks different than it is for a manufacturer or a mass retail or hospitality business. Sales reps also have different salaries, and accounting needs to pay […]

For convenience, accountants wait until financial statements are to be produced before making their estimation of net realizable value. This can be done using different methods, such as the percentage of sales method or the aging of accounts receivable method. The aging method groups all outstanding accounts receivable by age, and specific 3 ways to […]

You must also manage the relevant tax obligations for your employees and (in some cases) independent contractors. Again, Remote can help ensure that you are withholding (and contributing) the right amounts of tax for your employees, regardless of where they are based. We can also help ensure that you are filing the right tax paperwork, […]